citibank, reverse stock split? and Stocks 1 (Mirfield)

citibank, reverse stock split?

citibank's stock sold at a low of $ 0.97cents as of last week end. the stock advanced to 3.08 on wednesday.

management at citibank suddenly issued a statement that they may execute a reverse stock split. the stock immediately fell to $ 2.60. the reverse stock split statement was tantamount to a pilot turning off the engine when maximum lift was needed.

my question; why did management at citibank issue a statement about a reverse stock split?
preferred share holders can't vote unless unless the stock is converted to common shares.

i think we all need to remember that the government loaned money to citibank at the request of citibank. citibank went to the government for help and they got help in the forms of loans from the government.
citibank's stock is worthless because they invested in worthless paper.

government loans have no effect on the price of the stock.

if the government had no supported citibank with loans, they would have gone bankrupt.


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Answer by Nil
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Stocks 1 (Mirfield)


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